Financial Incentives Buoy NavyFed’s Expansion

Register now

PENSACOLA, Fla. - (01/09/05) – The Escambia County Commissionlast week approved economic incentives for Navy FCU, if thenation’s largest credit union agrees to expand its Pensacolacall center, as planned. One incentive would provide the facilitywith a 10-year property tax exemption totaling more than $4.6million. The $23 billion credit union would also qualify for astate tax refund over four years, amounting to $342,600. TheVienna, Va,-based credit union employs more than 400 people at thecall center and is expanding the facility to add another 650 jobs.A third phase would add another 600 jobs.

For reprint and licensing requests for this article, click here.